 Appy w/foreclosure (by Michele [AZ]) Apr 7, 2008 1:44 PM
 Appy w/foreclosure (by -- [--]) Apr 7, 2008 1:57 PM
Appy w/foreclosure (by Wallace CPM [VA]) Apr 7, 2008 2:15 PM
Appy w/foreclosure (by Erin [AR]) Apr 7, 2008 4:04 PM
Appy w/foreclosure (by JJ [OR]) Apr 7, 2008 8:07 PM
Appy w/foreclosure (by Lisa [AZ]) Apr 7, 2008 8:25 PM
Appy w/foreclosure (by melinda [MD]) Apr 8, 2008 7:38 AM
Appy w/foreclosure (by Mark [MI]) Apr 11, 2008 3:23 AM
Appy w/foreclosure (by DavidB [FL]) Apr 11, 2008 3:53 AM
Appy w/foreclosure (by Carl Stringfellow [AL]) Apr 11, 2008 5:56 AM
Appy w/foreclosure (by Michele [AZ]) Posted on: Apr 7, 2008 1:44 PM
Message:
State Specific Question About: ARIZONA (AZ)
With the state of the housing market, how many of you are dismissing applicants going through foreclosure for SFH. Is this a good time to perhaps pick up people who previously took care of a home? Or should they be viewed as irrresponsible? I've gotten many phone calls and everyone has the same story. "My payments and taxes are too high and we can't sell the home so we're trying for a short sale or to just let the home go." It seems to be an epidemic here is AZ. My biggest fear is that these people will turn around a file bankrupcy right after they lose their homes. I've heard the laws make it hard to file these days. Does foreclousre often preceed bankrupsy? --207.200.xxx.xxx |
Appy w/foreclosure (by -- [--]) Posted on: Apr 7, 2008 1:57 PM
Message:
Appy w/foreclosure (by Wallace CPM [VA]) Posted on: Apr 7, 2008 2:15 PM
Message:
Yes, they are irresponsible...if they LET A HOME THEY OWN go into foreclosure, something is wrong...I'd PASS
RE agents are actually advising clients in this situation to RENT FIRST, then get foreclosed on so they will have a place to go. --67.142.xxx.xx |
Appy w/foreclosure (by Erin [AR]) Posted on: Apr 7, 2008 4:04 PM
Message:
Take it on a case by case basis and use your same screening. I've got one lady that was a first time homeowner, got into an ARM and then lost her job. She was moving here to begin a new job with good income (verified) and had good previous rental history (verified). She had also gone the extra step to give me a letter written by the POA president (verified) that told of how well she had kept up the house and yard.
She has been with me almost 6 months and only been late once when she was called away for her brother's funeral and forgot.
Erin --75.48.xxx.xxx |
Appy w/foreclosure (by JJ [OR]) Posted on: Apr 7, 2008 8:07 PM
Message:
I've been looking forward to hearing you all's thoughts on this.
What I've been getting is longer-term homeowners who are moving to town and can't or don't want to sell right now. So they're renting their house and hoping I'll take them with 10 year-old or older landlord references (or more likely none they remember after 10 years). How do you know they're good neighbors/tenants?
Even a good homeowner isn't necessarily a great tenant.
I'm trying to figure out how to screen, and when to take a chance on someone, since obviously many home owners are responsible, stable people. --24.21.xx.xxx |
Appy w/foreclosure (by Lisa [AZ]) Posted on: Apr 7, 2008 8:25 PM
Message:
I've done it three times now and the house has been returned in imaculate shape. It's kinda like they don't want to think of themselves as "renters"--so they're extra good tenants. --207.200.xxx.x |
Appy w/foreclosure (by melinda [MD]) Posted on: Apr 8, 2008 7:38 AM
Message:
We have done this a number of times, thinking that these foreclosed people would be a good bet. Mixed results. Several have still been unable to pay the rent. One moved in with relatives after the year and owes over 1K. Recently sent check for $20. Hope I'm still around when she finishes paying her debt off. No property damages, just as said before Irresponsible tenants. Can't figure out where their wages go. They drive old cars and have junky furniture. Probably not into drugs. Figure that they did not pay their mortgage for 6-8 months so they ended up losing the house. Guess we will continue to rent with to them, since the market is pretty slow for rentals around here. --74.214.xx.xxx |
Appy w/foreclosure (by Mark [MI]) Posted on: Apr 11, 2008 3:23 AM
Message:
We took a chance with a couple going through foreclosure and they are the best renters so far. I have never seen anybody take care of place like this. We had the chance to see their house before they lost it, and that also help us make up our mind. They have always been early with the rent. --24.231.xxx.xxx |
Appy w/foreclosure (by DavidB [FL]) Posted on: Apr 11, 2008 3:53 AM
Message:
I take them on a case by case basis; I'm no bleeding heart but many lenders were asking for exactly what they got. Knowing that, many folks that had been lifelong, good paying tenants jumped on the homeownership band wagon only to realize they couldn't manage it. So many of our former customers are applying again. --67.166.xxx.xxx |
Appy w/foreclosure (by Carl Stringfellow [AL]) Posted on: Apr 11, 2008 5:56 AM
Message:
We screen them just like we would any other applicants, except that there are usually no prior rental references. So far, we have taken on two of them and it has worked out well. They pay their rent on time and take better than average care of the houses. --72.149.xxx.xxx |
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